906-

LAWS OF MARYLAND.

CHAP. 622.

however, at the pleasure of the said Mayor and. Common Coun-
cil at any time after the expiration of fifteen years from their,
respective dates and issuance.

Disposal of
bonds.

SEC. 2. And be it enacted, That said bonds shall not be dis-
posed of at a price less than the par value thereof, and said:
bonds shall be exempt from county and municipal taxation.

Sum of
money to be
appropriated

SEC. 3. And be it enacted, That the sum of twenty-five
thousand dollars arising from the sale of said bonds shall be
used and applied by the Mayor and Common Council of West-
minster exclusively in payment for the capital stock of the
Baltimore, Westminster and Gettysburg Railroad Company
at not more than the par value thereof, which capital stock
said Mayor and Common Council of Westminster are hereby
authorized and empowered to subscribe and pay for.

When capital
stock shall
be paid for.

SEC. 4. And be it enacted, That the Mayor and Common
Council of Westminster shall not subscribe for nor pay for
said capital stock of the Baltimore, Westminster and Gettys-
burg Railroad Company, or any part thereof, until the said
Baltimore, Westminster and Gettysburg Railroad Company
shall have constructed and completed its railroad and have the
same in operation through the city of Westminster, Carroll
county, Maryland, from Reisterstown, in the State of Mary-
land, to Gettysburg, Adams county, State of Pennsylvania,
and shall also have constructed and permanently located its
railroad shops at some point within the corporate limits of
said city of Westminster.

Tax

to be levied.

SEC. 5. And be it enacted, That the said Mayor and Com-
mon Council of Westminster be and they are required in each
and every year to levy and collect a special tax not exceeding-
ten cents on every hundred dollars of the assessed value of the
taxable property liable to assessment and taxation within the
limits of the corporation of the city of Westminster for the
purpose of paying the interest on the said bonds issued under
the provisions of this Act, as the same shall be payable, and
from time to time reduce and retire said bonds after the date
provided by this Act until all of them shall be redeemed and
retired.

Question of
Issuing bonds
submitted
to vote
of people.

SEC. 6. And be it enacted, That the Mayor and Common
Council of Westminster be and they are hereby authorized
and empowered to take the sense of the people of the city of
Westminster in relation to the issuing of the bonds provided
for in this Act by submitting the question to the qualified
voters at an election to be held in the city of Westminster on.
such notice, on such day, and at such plaee, and between such
hours of the day, as said Mayor and. Common Council may
order and direct, at any time not exceeding two years after